T. Rowe Price Investment Management Inc. Acquires 458,794 Shares of monday.com Ltd. $MNDY

Key Points

• T. Rowe Price Investment Management Inc. significantly increased its stake in monday.com Ltd. by 98.6% during the first quarter, owning approximately 1.82% of the company valued at $224.76 million.
• Analysts have lowered their price targets for monday.com, with Goldman Sachs and Bank of America reducing their targets to $270 and $240 respectively, while maintaining a "buy" rating for the stock.
• monday.com reported a 26.6% increase in year-over-year revenue for the recent quarter, surpassing analyst expectations by earning $1.09 per share against a consensus estimate of $0.84.

T. Rowe Price Investment Management Inc. raised its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 98.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 924,325 shares of the company's stock after buying an additional 458,794 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 1.82% of monday.com worth $224,759,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. WCM Investment Management LLC raised its stake in monday.com by 0.4% in the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after acquiring an additional 17,371 shares during the period. JPMorgan Chase & Co. raised its position in shares of monday.com by 102.5% in the first quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock valued at $408,999,000 after purchasing an additional 851,231 shares during the period. Rubicon Global Capital Ltd bought a new stake in shares of monday.com in the first quarter valued at approximately $137,434,000. Assenagon Asset Management S.A. raised its position in shares of monday.com by 754.8% in the first quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock valued at $107,142,000 after purchasing an additional 389,073 shares during the period. Finally, Driehaus Capital Management LLC raised its holdings in monday.com by 8.9% during the 4th quarter. Driehaus Capital Management LLC now owns 410,695 shares of the company's stock valued at $96,694,000 after acquiring an additional 33,606 shares during the period. 73.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MNDY has been the topic of a number of analyst reports. KeyCorp reaffirmed an "overweight" rating and set a $330.00 target price on shares of monday.com in a report on Monday, August 11th. Baird R W raised shares of monday.com from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. Cowen restated a "buy" rating on shares of monday.com in a research report on Tuesday, August 12th. The Goldman Sachs Group decreased their price objective on shares of monday.com from $350.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Finally, Oppenheimer reissued an "outperform" rating and issued a $300.00 price target on shares of monday.com in a report on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $303.59.

monday.com Trading Up 3.8%

Shares of NASDAQ:MNDY traded up $6.43 on Friday, reaching $177.89. 1,056,648 shares of the company traded hands, compared to its average volume of 1,820,004. The business's 50-day simple moving average is $264.33 and its 200 day simple moving average is $271.89. monday.com Ltd. has a 52 week low of $166.22 and a 52 week high of $342.64. The stock has a market capitalization of $9.03 billion, a P/E ratio of 240.40, a price-to-earnings-growth ratio of 5.98 and a beta of 1.27.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.25. The firm had revenue of $299.01 million for the quarter, compared to analysts' expectations of $293.60 million. monday.com had a net margin of 3.63% and a return on equity of 6.32%. The business's revenue was up 26.6% on a year-over-year basis. During the same quarter last year, the business earned $0.94 earnings per share. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

monday.com Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.